Wednesday, May 7, 2014

The Financials are leading this Market Down

The financials are leading this market down. We have some of the biggest losers in the financials, J.P. Morgan (JPM), Goldman Sachs (GS), Morgan Stanley (MS), Citigroup (C). In fact if you look at these charts, these are among the weakest charts out there. And you would think that if the Federal Reserve is continuing to taper and the economy is not as strong as people thought, that should be bad for the financials.

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

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